L&T INFOTECH LTD at All Time High; BSE IT Index Up 0.4%

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L&T INFOTECH LTD at All Time High; BSE IT Index Up 0.4%
Tue, 1 Sep 12:02 PM

L&T INFOTECH LTD share price has hit an all-time high at Rs 2,551 (up 2.3%).

Meanwhile, the BSE IT Index is at 18,234 (up 0.4%).

Among the top gainers in the BSE IT Index today are L&T INFOTECH LTD (up 2.3%) and TCS (up 0.3%).

TECH MAHINDRA (down 0.1%) and MINDTREE (down 0.3%) are among the top losers today.

Over the last one year, L&T INFOTECH LTD has moved up from Rs 1,609 to Rs 2,551, registering a gain of Rs 942 (up 55.8%).

The BSE IT has moved up from 16,146 to 18,234, registering a gain of 2,088 points (up 12.3%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were INFIBEAM AVENUES (up 95.8%), PERSISTENT SYSTEMS (up 75.3%) and TATA ELXSI (up 73.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,037 (up 0.7%). The top gainers among the BSE Sensex stocks today are BHARTI AIRTEL (up 5.3%), ASIAN PAINTS (up 2.8%) and BAJAJ FINANCE (up 2.2%). Other gainers include HDFC (up 2.0%) and NTPC (up 2.0%). The most traded stocks in the BSE Sensex are SBI and BHARTI AIRTEL.

In the meantime, NSE Nifty is at 11,510 (up 0.5%). The top gainers in the NSE Nifty include BHARTI AIRTEL (up 5.2%), JSW STEEL (up 3.5%) and ASIAN PAINTS (up 3.1%). Other gainers include HINDALCO (up 3.0%) and EICHER MOTOR (up 2.4%).

Over the last 12 months, the BSE Sensex has moved up from 36,563 to 39,037, registering a gain of 2,474 points (up 6.4%).

L&T INFOTECH LTD Financial Update...

L&T INFOTECH LTD net profit stood at Rs 4 billion for the quarter ended March 2020, compared to a profit of Rs 4 billion a year ago. Net Sales rose 7.1% to Rs 30.1 billion during the period as against Rs 28.1 billion in January-March 2019.

For the year ended March 2019, L&T INFOTECH LTD reported 36.2% increase in net profit to Rs 15.2 billion compared to net profit of Rs 11.1 billion during FY18.

Revenue of the company grew 29.3% to Rs 94 billion during FY19.

The current Price to earnings ratio of L&T INFOTECH LTD, based on rolling 12 month earnings, stands at 28.6x.



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